The Social Security and National Insurance Trust (SSNIT) has announced that it will not sell its current assets and facilities, instead, the organisation plans to revamp and optimise its resources to generate better returns.
This is a significant shift in its investment strategy, reassuring stakeholders of value for money, after the Trust suffered a backlash for its decision to sell its stake in Labadi Beach Hotel and some other hotels it described as non-performing assets in 2024.
Addressing the media at the opening of its new branch, located on the Spintex Road in Accra, Director General of SSNIT, Kwesi Afreh Biney, said the decision to retain and revitalise its assets is part of a broader effort to improve the Trust’s financial performance.
“And that’s why I earlier flagged the point that it is crucial that we help change those non-performing assets into performing assets,” the Director General emphasized.
According to him, SSNIT intends to conduct a thorough review of its investment portfolio, identifying areas that yield the best returns.
“We’ve looked at reviewing our investment portfolio, we’ve looked at which areas are giving us the best returns, and we are beginning to channel our resources into areas that give us the best returns,” Mr. Biney explained.
On the assets previously slated for sale, the Director General assured that SSNIT will not dispose the assets. “Watch out for what we would do with our facilities that were to be sold. I can assure you, we will not sell those facilities. We’ll turn around those facilities, and we’ll have an event to speak to what we plan to do with those facilities.”
This strategic decision reflects the new administration of SSNIT’s commitment to maximizing its resources and generating value for its stakeholders.
The SSNIT boss also hinted at plans to launch a virtual office in the third-quarter of 2025. This forms part of efforts to increase accessibility and enrolment into the scheme.
The new office, which is located at Takyi Plaza on the Spintex Road is the Trust’s 52nd branch in the country. It is expected to serve the rapidly growing communities on the Spintex Road.
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